Yes it is true that Nowadays, there are more separate retail and commercial banks than ever because as the modern economy is growing with the more and more cashless system, Retail and commercial banking the only way to enable such upgradation in the banking sector.
What is Retail Banking?
Retail banking is also called personal banking or consumer banking. Its main focus is to provide banking services to general public or customers rather than to organizations.
What is Commercial Banking?
Commercial banking is an institution which provides deposit facilities, gives loan and other banking facilities. It can be classified as
1-Public Sector banks
2-Private Sector Banks
3-Foreign Banks
4-Regional Rural Banks
What is Modern Economy?
Modern economy is Market Capitalism, Market Socialism, Command Capitalism, Command Socialism.
Hence option A is the correct answer.
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